Efficient Plant April 2021 - 18

feature | lubrication solutions

Metrics Key to

Sustainable
Success

Mark Barnes, PhD, CMRP
Des-Case Corp.

LORD KELVIN, FAMED for his 19th
century pioneering work in thermodynamics and electrical engineering, is reputed to
have said, " If you can't measure it, you can't
manage it. " In today's data-driven world,
that statement is even more true than in
Lord Kelvin's time. Measurements, however,
only get us so far. To have true meaning,
we need a comparison to decide whether a
measurement is good or bad, high or low.
This is where metrics come into play.
Metrics, often referred to as Key Perfor-

18

EP2104flube.indd 18

| EFFICIENTPLANTMAG.COM

mance Indicators (KPI), are designed to
provide meaning to performance measurements and indicate whether we should take
corrective action.Designed correctly, KPIs
should follow the SMART principle:
S Strategic: Does the metric align with overall business goals and objectives?
S Measurable: Can we easily and accurately capture the data that's required to trend
performance?
S Actionable: If a KPI is found to be out of
compliance, is there a simple correction?

Use the SMART approach to
establish KPIs that will improve your
lubrication practices.

S Reasonable: Are the KPIs achievable and
realistic?
S Timely: Are the KPIs lagging or leading
indicators and do they provide enough time
to take correct action?
Having worked with organizations that
had very few KPIs and others that seemed
to be swimming in numbers, I can attest
that metrics can create stress in any organization. Stress is not always bad. While
we're all familiar with distress, which can
create feelings of hopelessness and despair,

APRIL 2021

3/30/21 9:43 AM


http://www.EFFICIENTPLANTMAG.COM

Efficient Plant April 2021

Table of Contents for the Digital Edition of Efficient Plant April 2021

Efficient Plant April 2021 - Cover1
Efficient Plant April 2021 - Cover2
Efficient Plant April 2021 - 1
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Efficient Plant April 2021 - Cover3
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